Club Meeting Calendar for 2011

Jan. 20 May 19 Sep. 15 Feb. 17 June 16 Oct. 20 Mar. 17 July 21 Nov. 17 Apr. 21 Aug. 18 Dec. 15

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Club Medallions program Begun in 2005

In 2005, the Augusta Coin Club held a contest open to its members to propose designs featuring an Augusta landmark for a medallion, the winner to receive $50.00. The winning entry was to be struck in Antique Bronze, Antique copper and copper. To date the club has struck a medallion in every year since then. Starting in 2009, the 50th anniversary of the club’s founding, an additional medallion was made and struck in .999 fine silver. We are now into the month of June and thus far the topic has yet to be considered. It’s still not too late to continue the series in 2011.

The 2010 Augusta Coin Club Medallion struck in Antique Copper Depicts downtown Broad Street Trolley Scene of the 1920’s

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Collecting Short Sets: Part 4: Dollars By Arno Safran

1795 Flowing Hair, 1799 Draped Bust & 1863 Liberty Seated $1.00s The first three collectible US silver dollar types [Magnify to 150%]

Of all the US denominations, the silver dollar, once considered too large and unwieldy to use in daily commerce has become one of the most popular series with today’s collectors. A major reason for this has been the Morgan dollar; a coin that saw very little circulation during its run (1878-1921) but unlike its forbearers was struck in the multi millions and later heavily promoted. In assembling a Short set of silver dollars one should begin with the Flowing Hair type issued in 1794 and 1795. Only 1,758 pieces were coined in 1794 and these are expensive but in 1795 the reported mintage was increased to 160,295 making this date more accessible and affordable. Collectors wishing to complete a short set of silver dollars should seek a certified example grading Fine-12 to Fine-15 like the one shown above.

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Pres. Steve Nix 1st V.P. Glenn Sanders 2nd V.P. Howard Black Sec. John T. Attaway Treas. Xavier Pique Sgt. in Arms: Bryan Hoyt and Joe Bert

Club Mailing Address Augusta Coin Club

P.O. Box 2084 Evans, GA 30809

Web site: www.augustacoinclub.org

The Augusta Coin Club Meets on the 3rd Thursday of the Month at America’s Best Value Inn on Washington Road The Augusta Coin Club since 1959

Special Duties Webmaster: Xavier Pique Newsletter editor, Arno Safran E-mail: arnosafran@comcast.net Bourse Chairman, David Chism Auction: Glenn Sanders Bids Recorder, David Chism

Volume 11, Number 6 THE AUGUSTA COIN CLUB MONTHLY NEWSLETTER June, 2011

Do we want to strike a Medallion for 2011? Our Next Meeting is Thursday, June 16, 2011 from 6:30 to 9:30 PM

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Vol. 11, No. 6 The Augusta, GA Coin Club Monthly Newsletter June, 2011

Assembling a Short Set of US Silver Dollars (Continued from page 1, column 2)

A 1799 Draped Bust Heraldic Eagle Silver dollar grading VF-35 With a reported mintage of 423,515, this is one of the most common dates.

According to numismatic scholars including Q. David Bowers, author of “Silver Dollars & Trade dollars of the United States” the Flowing Hair design of our first Chief Engraver Robert Scot was not very popular with the result that three artists collaborated to create the resplendent Draped Bust design that first appeared in mid 1795 on the dollar. The model was the beautiful Philadelphia socialite, Ann Bingham, nee Willing and the wife of Pennsylvania’s first Senator, William Bingham and the three artists included renowned portrait painter Gilbert Stuart, John Eckstein of Rhode Island who fashioned plaster models for our first Chief Engraver Robert Scot to use. The small eagle concept was slightly altered for the new Draped Bust dollar reverse, but in 1798, Scot adapted the Great Seal of the United States which displayed the eagle’s wings fully spread bearing a large patriotic shield in a sea of stars. This became known as the Heraldic Eagle reverse type, improving the overall design in the opinion of most numismatists.

At the time the author began assembling his collection of early US type, the 1799 dollar (graded by Anacs as VF-35) pictured above was fairly inexpensive. Unfortunately, during the first decade of the 21st century, prices have quadrupled for virtually all early US type (1793-1839). If one has the resources to acquire Draped Bust/ Heraldic Eagle dollar, the 1798 or 1799 Heraldic Eagle are the most common dates and certified examples from VG-10 to Fine-12 are still moderately priced.

In the early 1800’s the population of the United States was around 6 million. The silver dollar had tremendous purchasing power and was only used for large business tractions. Due to the severe shortage of silver for planchets, the denomination was suspended in 1804 with the final coinage of Bust dollars showing the 1803 date; not the famed 1804 rarity. The actual 1804 dated Bust dollars were made from new dies engraved by Chief Engraver William Kneass in 1834 to be included as part of a complete set of US coinage for foreign potentates.

In 1835, Mint Director Robert Maskell Patterson decided to resume dollar coinage because if the US was to assume monetary respect from the European countries, it should produce a crown size silver coin and he asked William Kneass to develop a design based somewhat on the Britannia model. After many trials which involved Kneass, painters Thomas Sully

and Titian Peale and finally Asst. Mint Engraver, Christian Gobrecht, a new Liberty Seated design—to be known as the Gobrecht dollar—became reality at the end of 1836 and early 1837 when 1,600 proof issues were released into circulation. Alas, the new dollar didn’t prevail. Between 1837 and 1840, further tinkering with Gobrecht’s seated Liberty design continued on all five silver denominations; the half dime thru the dollar and in 1840 the finalized version of the dollar was completed and released.

An 1863 Liberty Seated no motto silver dollar grading AU-50 The type was reduced from 39-40 mm (Bust dollars) to 38.1 mm.

In 1840, the US population reached 17,069,000 almost three times that of the Bust dollar era and by the end of the Civil War it had gone well above 30 million yet the overall annual mintages for the Liberty seated dollar were generally far lower than the previous series when the population was smaller. The series comes in two sections; the no motto, (1840-1865) and with motto for IN GOD WE TRUST (1866-1873). The common dates from the no motto portion of the series are the 1842, 1843, 1847, 1849, 1859-O, 1860-O. [The 1863 issue shown above had a mintage of just 27,200 but as a date it is not scarce, let alone rare and can be acquired at a still moderate figure in the higher circulated grades.] The common dates for the with motto portion of the series--all Philadelphia Mint issues--are the 1870, 1871 and 1872. Up through AU-50, these are still moderately priced. Liberty Seated dollars that are certified as mint state, (i.e., MS-60 and higher) are considered rare and expensive.

An 1878-S Trade dollar graded AU-58 by PCGS

In 1873, a new coinage law was passed eliminating several denominations that included the 2¢ copper, 3¢ silver, 5¢ half dime, and silver dollar. It also increased slightly the silver weight in the dime, quarter and half dollar. Replacing our circulating dollar coin was the Trade dollar which was issued ostensibly for trade with the Orient. Many citizens called this, “The Crime of ‘73”.

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(Continued on page 3, column 1)

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Vol. 11, No. 6 The Augusta, GA Coin Club Monthly Newsletter June, 2011

Assembling a Short Set of US Silver Dollars (Continued from the previous page)

The new Trade dollar was granted legal tender status but only up to $5.00. Struck at the Philadelphia, San Francisco and in Carson City Mints, the San Francisco Mint coins are the most common and least costly up through AU-55 as most S dates exceeded several million. The designer was William Barber who became the Chief Engraver upon the death of James Barton Longacre in 1869. From 1879 on, the Trade dollar was struck just at the Philadelphia mint and in Proof only. By then the Morgan dollar was being produced. The Trade dollar may never have quite enjoyed the popularity of the other silver dollar types but it is an attractive coin. Certified pieces are recommended.

An 1878-S Morgan dollar, first year of issue; a common date

Despite being one of the most popular numismatic collectibles a collector interested in procuring a specimen of the Morgan designed silver dollar for our “short set” needs but one for type. The coin pictured above was graded only MS-63 by PCGS yet has great eye appeal and as an extremely common date is very moderately priced. The author acquired it for only $23.00 back in the 1990’s. Today it would sell for around $55 to $60. There are many others. Unlike the lower mintage Liberty Seated dollars that were held back from being put into circulation the Morgan dollar mintages were huge sometimes as many as 10 million for a date from a single Mint, yet these were stashed away in Mint sewn bags for most of the coin’s long tenure. So, despite the several key dates not withstanding, this type will be the easiest to fill for your short set of silver dollars.

A 1935 Peace $1.00 graded MS-62 by PCGS

The Peace dollar series (1921-1935) has a number of common dates, the 1922-24-P being bar far the most common and least expensive. The 1935-P shown above was acquired at one of our local club shows for a very modest price. The date represents the last actual silver dollar intended for circulation.

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Club Medallions for 2011? (Continued from page 1, column 1)

2009 50th Anniversary Club Medallion struck in .999 fine silver

During 2010, the newsletter featured a number of articles on Augusta historic sites. One of them displayed the Partridge Inn. .

The Partridge Inn. As seen around 1930

Another was Augusta’s old Union Station show in its heyday as a fashionable depot.

Augusta’s once resplendent Union Station It was conceived in 1903, operated through 1968 and razed in 1972.

These are just two of several possible area motifs the club could select for a 2011 medallion. As for a 2011 silver medallion, with silver at $38.00 an ounce as this is being written, members will have to decide how much they are willing to pay based on the limited design options. The tem will be on the agenda at the next ACC Board meeting. ____________________________________________________________________________________________________________________

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Vol. 11, No. 6 The Augusta, GA Coin Club Monthly Newsletter June, 2011

Club News

At the May 19 meeting, Treasurer Xavier Pique reported a balance of $11,193.37, a new record for the club, no doubt due to the successful May 13-14 show. Bourse Chairman David Chism thanked all the members who helped out with the set up, during the event at the Welcoming Desk and with the take down after the show closed. For his efforts, not only for the show just held but for the many successful club shows David has organized and run over the years, President Steve Nix presented a gift credit card of $200.00 to David Chism who received a hearty round of applause from the membership.

There were a number of Show & Tells: Young Numismatist Charlie Harvey displayed a 1/10 ounce gold eagle graded MS-69 which just happened to be the 1st prize drawing at our May show. Congratulations, Charlie! H also displayed a 2009 “Formative Years reverse” commemorative Double Pinky Lincoln cent which showed die breaks appearing on the thumb and fifth finger. Former ACC President Bill Myers, a noted Error collector would be proud of Charlie’s observational skills.

Another top doubled die on a 2009-P Formative Years

cent! It shows a very widely spaced index finger down below the

pinky finger! This is the only truly significant Formative Years

doubled die with a secondary finger shifted south! Because this is

widest reverse doubled die known for the series with a secondary

finger shifted south, it falls within the VCR’s Top Dozen Formative

Years Doubled Die listed for this date and Mintmark. Listing

Numbers: FS-805, CONECA: DDR-026, Wexler: WDDR-025,

Crawford: CDDR-026. Copper Coins 1DR-026.

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(Courtesy of Coinzine’s Coin of the Day, ED.)

Following one Lincoln coin, President Steve Nix displayed a collection of Lincoln coinage. These included the 1918 Illinois Centennial half dollar which features Abraham Lincoln’s portrait facing right on the obverse, the 2003 Illinois State quarter, showing a young Lincoln standing in front of the map of Illinois, the Lincoln 2009 & 2010 commemorative silver dollar pieces and three of the 2009 Lincoln cent varieties. Arno Safran displayed a modern cupro-nickel set of Nicaragua coins, all featuring General Cordoba’s portrait on the obverse with the five volcanoes wit sun and rays rising to the left appearing on the reverse; the same design type that once graced the obverse of the coinage of the short-lived Central American

Republic (1824-1838). The five denominations of Arno’s set were 5 centavos, 10 c, 25 c. 50 c and $1 Cordoba.

The program for the evening run by Xavier Pique was Part One of an American Numismatic Association video presentation on Colonial Georgia Banknotes from the collection of the late Radford Stearns, a renowned former ANA governor and Georgia numismatist who specialized in the paper money of our state. We will see Part Two at our upcoming June 16 meeting.

The Prize winners at the May 19 meeting were Glenford Logan who won the first door prize drawing and received a 2010 ACC .999 fine silver medallion. The second door prize winner received a 1963 Franklin half dollar housed in an NGC-63 holder. The 50/50 winner was Shelby Pruster who won $82.00. Congratulations Glenford, Shelby and the unknown winner of the Franklin half who we hope will reveal him or herself at the June 16 meeting.

There is one sad note to report. Member Carl Clark passed away on May 25 after a long illness. He and his wife Sylvia had been attending virtually all our meetings for several years. Carl was a very good natured fellow, was well liked and enjoyed sharing his fondness for coin collecting with his fellow members. We shall miss him. The club has sent the family a basket of flowers in his honor.

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Kindly Patronize Our Dealers

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Vol. 11, No. 6 The Augusta, GA Coin Club Monthly Newsletter June, 2011

PAGE FIVE- By Xavier Pique The Sharifs of Morocco and the Ribbed Dome

(First of two articles) Once again a boxful of foreign coins is the source of much wonderment and history. This time, a 5-Franc aluminum bronze coin from the Kingdom of Morocco (MAROC) provides the window onto this complex, unfathomable nation. The coin's obverse includes a 5-pointed star with an intricate woven design, the legend "EMPIRE CHERIFIEN" and the

date 1370. The reverse, an 8-pointed star encasing an octagon and inscribed in a filigreed circle. What do these words and dates and motifs mean? Part 1: The Sharifs of Morocco Morocco, an Islamic nation, lies at the north-west of Africa, just a good swim away from the coast of Spain across the Straits of Gibraltar, and is a gateway both to western Africa and to the Mediterranean sea. The strategic and geographic significance of the narrow passage at Gibraltar was celebrated for over a

century on the reverse of Spanish Pillar Dollar and smaller coins, as the pillars of Hercules: The rock of Gibraltar on one side, and Jebel Musa Mountain in Morocco on the other, and the brave New World to the west of the pillars (PLUS

ULTRA- More Beyond, as proclaimed by the coin's motto). Morocco was ruled from approximately 100 BC by the Berber Kingdom. Around the 7th century, Arabs

conquered the region and brought their language, customs, system of government and Islamic religion with them. Islam was adopted by the Berbers, and since approximately 710 AD has been ruled by Muslim/ Berber potentates, or Sharifs (CHERIFS), who claim to have a direct descent from the prophet Muhammad's daughter Fatima and her husband, 'Ali. The Sharifs of the Alawi Dynasty ruled with a strong, ruthless hand through the seventeenth century, when

Mulay al-Rashid gained control over the rich cities of Fez and Marrakesh. His brother, Mulay Ismail, founded a slave army of 150,000 souls, induced the English to abandon Tangier, drove the Portuguese from main cities and expelled the Spanish from Larache. All Morocco fell under his control during a record reign that lasted fifty-five years. (Continued on page 6)

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Vol. 11, No. 6 The Augusta, GA Coin Club Monthly Newsletter June, 2011 Upon the death of Mulai Ismail his many sons quarreled about the succession. Seven of them succeeded each other in a round of warfare, assassination and revolt, lasting half a century. The

disruption and lawlessness it caused came to influence the administration of the country, or lack of it, for almost two centuries, to about 1850. Local magnates and warlords controlled and vied for power in the provinces, leaving the Sultans to exercise effective control only in the cities they held. The lawless nature of much of the country increased the attention of the European powers. Initially, they aimed to end piracy and slavery. Treaties were

imposed, but these had little effect. By the middle of the nineteen-century, Spain, France and Britain were vying with each other to establish their influence. The French inflicted a crushing defeat on Mulay 'Abdu'l Rahman in 1844, forcing him to conclude a treaty granting preferential trade concessions. The Spanish did the same in 1860, occupying Tetuan in ransom. Soon, the powers were controlling the customs and ports, postal services, even health and sanitary works in the coastal cities.

France showed a strong interest in Morocco as early as 1830. For the first time, Morocco became a state of some interest in itself to the European powers Recognition by the United Kingdom in 1904 of France's sphere of influence in Morocco provoked a reaction from the German Empire; the crisis of June 1905 was resolved at the Algeciras Conference, Spain in 1906, which formalized France's "special

position" and entrusted policing of Morocco jointly to France and Spain. A second Moroccan crisis provoked by Berlin, increased tensions between European powers. The Treaty of Fez (signed on March 30, 1912) made Morocco a protectorate of France, which lasted until 1956. By the same treaty, Spain assumed the role of protecting power over the northern and southern Saharan zones later that year. The strategic significance of Morocco as the gateway to Northwest Africa and the Mediterranean Sea became critical during the first and Second World Wars of the 20th Century. Morocco was a place full of French and British spies, Nazis, smugglers, mercenaries, arms dealers and yes, cafe operators. The movie Casablanca with Humphrey Bogart and Ingrid Bergman captured the intrigue and mystique of the place during the 2nd World War. The date 1370 on the 5-Franc Coin corresponds to modern day 1951, or roughly 1370 lunar years (355 days long) after the journey (hegira) of Muhammad in 622 A.D. from Mecca to Medina.

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Next month- The design of the Dome at a Mosque in Cordoba, Spain and a Roman Catholic Church in France turns out to be the same as on the 5-franc Moroccan coin!

Scene from movie "Casablanca"